What distinguishes a public fiduciary from a private fiduciary?

A public fiduciary is distinct from a private fiduciary primarily in that public fiduciaries serve a larger group, typically the community or population at large, rather than just individual families. Public fiduciaries are government-appointed officials responsible for managing the affairs of individuals who may not be able to manage their assets due to incapacity or other reasons. This role arises from the need to provide services to vulnerable individuals, ensuring their financial and personal affairs are well-managed.

Private fiduciaries, on the other hand, typically manage assets and affairs for specific individuals or families, often hired directly by those individuals or their families to handle estate matters, trusts, or financial affairs. The scale and scope of their responsibilities differ significantly from those of public fiduciaries, who must operate within the framework of public service obligations.

The other options presented do not accurately capture the defining characteristics of a public fiduciary. For instance, while public fiduciaries may manage multiple cases, they do not specifically serve "more than one family" in a competitive manner as private fiduciaries would—rather, they consider the needs of the broader community. Additionally, public fiduciaries may charge fees, as their services are often funded through governmental sources but can also incur costs associated with their duties. Lastly, public